I want to speak with you about our nation's unprecedented response to the Corona virus outbreak that started a China and is now spreading throughout the world.

Today, the World Health Organization officially announced that this is a global pandemic.

We have been in frequent contact with our allies and we're marshalling the full power of the federal government and the private sector to protect the American people.

This is the most aggressive and comprehensive effort to confront a foreign virus in modern history.

I am confident that by counting and continuing to take these tough measures, we will significantly reduce the threat to our citizens and we will ultimately and expeditiously defeat this virus.

After consulting with our top government health professionals, I have decided to take several strong but necessary actions to protect the health and well being of all Americans.

To keep new cases from entering our shores.

We will be suspending all travel from Europe to the United States for the next 30 days.

The new rules will go into effect Friday at midnight.

Thes restrictions will be adjusted, subject to conditions on the ground.

There will be exemptions for Americans who have undergone appropriate screenings and these prohibitions will not only apply to the tremendous amount of trade and cargo, but various other things as we get approval.

Anything coming from Europe to the United States is what we're discussing.

These restrictions will also not apply to the United Kingdom.

At the same time, we're monitoring the situation in China, in the South Korea and as their situation improves, we will re evaluate the restrictions and warnings that are currently in place for a possible early opening.

The vast majority of Americans, the risk is very, very low.

Young and healthy people can expect to recover fully and quickly if they should get the virus.

The highest risk is for elderly population.

With underlying health conditions.

The elderly population must be very, very careful in particular were strongly advising that nursing homes for the elderly, suspended or medically unnecessary visits.

In general, older Americans should also avoid non essential travel in crowded areas.

My administration is coordinating directly with communities with largest outbreaks and we have issued guidance on school closures, social distancing and reducing large gatherings.

Smart action today will prevent the spread of the virus tomorrow, but to provide extra support for American workers, families and businesses.

Tonight I am announcing the following additional actions.

I am instructing the Small Business Administration to exercise available authority to provide capital and liquidity to firms affected by the Corona virus.

Effective immediately, the S P A will begin providing economic loans in affected states and territories.

These low interest loans will help small businesses overcome temporary economic disruptions caused by the virus.

To this end, I'm asking Congress to increase funding for this program by an additional $50 billion.

Using emergency authority, I will be instructing the Treasury Department to defer tax payments without interest or penalties for certain individuals and businesses negatively impacted.

This action will provide more than $200 billion of additional liquidity to the economy.

Finally, I am calling on Congress to provide Americans with immediate payroll tax relief.